Penobscot Railroad v. White
Supreme Judicial Court of Maine
On Report from Nisi Prius, Appleton, J., presiding. Assumpsit for fifteen assessments of five dollars each, on twenty-five shares in the capital stock of the Penobscot Rail-, road Company. An original subscription book, containing the printed terms of subscription, was introduced. That portion of it important to the understanding of this case, is as follows: — “4th.
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On Report from Nisi Prius, Appleton, J., presiding. Assumpsit for fifteen assessments of five dollars each, on twenty-five shares in the capital stock of the Penobscot Rail-, road Company. An original subscription book, containing the printed terms of subscription, was introduced. That portion of it important to the understanding of this case, is as follows: — “4th. The corporation may be organized when one thousand shares shall have been subscribed, but said company shall not engage in nor commence the construction of any section or sections of said Railway, until seventy-five per centum of…
1Opinion of the CourtMay, J.
The first objection urged in defence of this action is, that the notice, that books of subscription to the capital stock would be opened at different places, was signed by only twelve persons, being not all, but a majority of the persons named in the first section of the plaintiffs’ charter. The third section of the charter provides that such books shall be opened under the direction of the persons named in section 1, and that public notice shall be given, thereof, in some newspaper printed in Bangor and Boston. It is not denied that the proper notice was given if the signatures thereto were…
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- Farmers' Lumber Co. v. LuikartWyoming Supreme Court · 1927
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